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Palomar Holdings Inc (NASDAQ:PLMR) stock has reached a remarkable milestone, soaring to a 52-week high of $115.0 USD. The specialty insurance provider, now valued at $2.88 billion, has demonstrated exceptional financial health with a "GREAT" rating according to InvestingPro analysis. This peak reflects a significant surge in investor confidence, as evidenced by the impressive 83.39% one-year return. The company’s robust performance, including 47.33% revenue growth and a moderate P/E ratio of 25.2, has caught the attention of both analysts and investors, signaling strong business growth and potential for continued upward momentum. For deeper insights into PLMR’s valuation and growth prospects, including 8 additional key ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Palomar Holdings, Inc. reported a strong Q4 performance, with earnings and revenue growth exceeding analyst expectations. The company’s adjusted earnings per share for Q4 2024 were reported at $1.52, surpassing analyst consensus estimates by $0.30. Despite slightly missing the revenue estimate, the company posted a revenue of $373.7 million, marking a 23.3% YoY increase.
Palomar’s net income also demonstrated significant growth, rising 35% to $35 million, while adjusted net income saw a 47.5% increase to $41.3 million. The company’s gross written premiums for the full year 2024 also increased by 35.1%, contributing to a net income rise of 48.4% to $117.6 million.
As for future developments, the company has provided guidance for the full year 2025, projecting an adjusted net income between $180 million and $192 million, which includes an estimated $8 million to $12 million in catastrophe losses. These recent developments highlight Palomar’s strong financial performance and growth trajectory.
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